Sui ecosystem gains institutional boost as Sygnum launches $SUI banking services
0
0
Cryptocurrencies displayed a bullish performance over the past day as bullish news renewed interest.
Most altcoins eye substantial breakouts from critical price levels, with Ethereum teasing a break above $4,000.
Meanwhile, digital asset banking group Sygnum has bolstered Sui’s appeal in the world of institutional and professional investing.
The bank has introduced custody, lending, and trading solutions for the native coin, SUI.
The move positions the Sui network for swift recognition by financial institutions, global asset managers, and wealthy individuals.
SUI’s integration on a licensed banking platform clears the path for the Sui ecosystem to unlock capital flows from markets that have been cautious about interacting with cryptocurrencies.
That brings the sought-after bridge between established models of global finance and blockchain technology.
Sui Foundation’s Managing Director, Christian Thompson, emphasized the benefits of the alliance.
He noted that massive institutional access would substantially enrich Sui’s international reach.
The official trusts Sygnum’s infrastructure is adequate to help scale the SUI ecosystem.
Thompson says:
Broadening institutional access to the Sui ecosystem further expands Sui’s reach to the global institutional investor community. Sygnum’s crypto-native team, end-to-end regulated offering, and trusted infrastructure make them our ideal banking partner as we continue to build and scale.
For the digital bank, this is more than listing a digital token.
It represents the increasing overlap between blockchain innovation and traditional banking.
CEO and co-founder Mathias Imbach highlighted the bank’s deep knowledge about crypto makes it a perfect platform to support Sui’s vision.
He added:
Sygnum’s unique understanding of digital assets sits at the intersection of the rapidly converging digital asset and regulated financial ecosystems. We are excited to support the Sui Foundation in developing the future-proof, opportunity-ready treasury it needs to continue its growth trajectory.
What for SUI holders?
The bank’s integration of SUI is beyond the selling and buying of the digital token.
Sygnum’s regulated offerings now include institutional-level custody to guarantee asset safety under bank-grade security.
Also, clients seeking hedging or exposure options can access SUI derivatives and spot trading on the banking platform.
Moreover, users can earn staking rewards – set to launch soon – while using SUI as collateral for the loans rollout in the fourth quarter.
These offerings will make it easier for investors to handle digital and conventional assets under one umbrella, thanks to Sygnum’s traditional securities services.
SUI price outlook
The native token gained 1.45% over the past 24 hours to press time’s $3.80.
SUI looks poised for more gains after a 10% and 29% weekly and monthly surges.
Broad market recoveries and developments like the $450M treasury from a Wall Street firm kept the altcoin afloat in the past few sessions..
Its current prices place it above the crucial 50- and 100-Exponential Moving Averages on the 1D chart.
That confirms buyer control of SUI’s current performance. Also, MACD and RSI indicators suggest optimism.
However, broad market developments will influence the coin’s short-term trajectory.
Most assets seem to have stalled after the latest uptick, signaling a cool-off before continued gains.
The post Sui ecosystem gains institutional boost as Sygnum launches $SUI banking services appeared first on Invezz
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
0
0
